Impinj, Inc. (NASDAQ:PI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $191.60.

PI has been the subject of a number of research reports. Susquehanna increased their price target on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 target price (up previously from $180.00) on shares of Impinj in a research note on Friday, September 27th. Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th.

Impinj Stock Performance

Shares of NASDAQ PI opened at $231.72 on Friday. The business has a 50 day simple moving average of $180.07 and a 200 day simple moving average of $161.47. Impinj has a 52 week low of $48.39 and a 52 week high of $232.00. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 799.03 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the prior year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts predict that Impinj will post 0.31 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 577 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the sale, the executive now owns 64,532 shares of the company’s stock, valued at approximately $13,500,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at approximately $14,751,505.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 577 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the sale, the executive now owns 64,532 shares in the company, valued at approximately $13,500,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,713 shares of company stock worth $3,657,482. Company insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors acquired a new position in shares of Impinj during the fourth quarter worth about $68,211,000. Prudential PLC acquired a new position in Impinj during the 4th quarter worth approximately $277,000. Ghisallo Capital Management LLC bought a new position in shares of Impinj during the 4th quarter worth approximately $4,192,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the first quarter valued at approximately $32,000. Finally, Deltec Asset Management LLC bought a new stake in shares of Impinj in the first quarter worth $584,000.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.